Tons sold at Papillon and MIN-AD were 36% and 6% higher respectively than 2016.

“2017 was a strong year for Inter-Rock, generating record revenue and cash flow. All three businesses recorded higher operating cash flow in 2017 as compared with the year earlier. The strong cash flow allowed the Company to reduce debt by $2.3 million in 2017,” said Mr. Michael Crombie, Chief Executive Officer.

“Despite a forecast of continuing low milk prices for at least the first half of 2018, the Company is budgeting a slight increase in overall tons sold by both Papillon and MIN-AD in 2018, while Mill Creek is targeting an increase in higher margin sales to the float glass industry. The Company will continue to focus on reducing its debt in 2018 and plans to refinance approximately $3.6 million of debt that is scheduled to mature in the first quarter of 2019,” Mr. Crombie added.

Associated Documents

This press release should be read in conjunction with the Company’s consolidated financial statements for the years ended December 31, 2017 and December 31, 2016 and associated Management’s Discussion and Analysis (“MD&A”), which are available on the Company’s website, www.interrockminerals.com, in the Regulatory Filings section under News & Filings, and on SEDAR (www.sedar.com).

Company Contact

Robert Crombie, CFO
416-367-3004

About Inter-Rock

Inter-Rock owns three operating businesses: Papillon Agricultural Company Inc. (“Papillon”), MIN-AD, Inc. (“MIN-AD”) and Mill Creek Dolomite LLC (“Mill Creek”). Papillon is a US based marketer and distributor of toll manufactured premium dairy feed nutritional supplements, including MIN-AD’s products. MIN-AD and Mill Creek are engaged in the production and marketing of high purity dolomite, primarily to the animal feed, glass, roofing and aglime industries in the United States.

No stock exchange or securities regulatory authority has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Disclosure Regarding Forward-Looking Statements

This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation. Generally, forward-looking statements can be identified by use of words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology. Such statements are based on reasonable assumptions, estimates, opinions and analysis made by management in light of its experience and its perception of trends, current conditions and its expectations of future developments as well as other factors which management believes to be reasonable and relevant. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Risks and uncertainties are more fully described in the Company’s annual Management’s Discussion and Analysis available at www.sedar.com. While the Company believes that the expectations expressed by such forward-looking statements and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. Accordingly, readers should not place undue reliance on such statements.